Question

Consider the difference between “supply” and “quantity supplied.” Select the change in only quantity supplied: (select all that apply)


More store-brand cereals were sold during 2020 when income decreased due to the pandemic-induced recession


More laptop computers were sold when technological innovation lowered the cost of producing batteries


More gasoline was sold when buyers and sellers expected higher gas prices in the near future


More Uber rides were taken when people switched from driving taxis to driving for Uber in NYC


More veterinary services were consumed during 2020-2021 as people acquired “pandemic dogs and cats”

Answer 1

The following would lead to a change in quantity supplied :

More store-brand cereals were sold during 2020 when income decreased due to the pandemic-induced recession.

More veterinary services were consumed during 2020-2021 as people acquired “pandemic dogs and cats”

What is a change in quantity supplied?

There is a change in quantity supplied if the price of that good either increases or decreases. The quantity supplied increases when price increases and decreases when price decreases.

This indicates that there is a positive relationship between price and the quantity supplied. A change in quantity supplied leads to a movement along the supply curve - either upward or downward.

There is a change in supply when other factors other than the price of the good changes. For example, a change in the number of suppliers, change in the cost of production would lead to a change in supply. When there is a change in supply, the supply curve should shift either inwards or outwards.

To learn more about the change in supply, please check: https://brainly.com/question/15835771

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